As of December 31, 2025, the carrying amounts of short-term investments were as follows:
As of December 31, 2025
Quantity(i)
Cost Basis
Fair Value
Exchange difference
Cumulative gain or loss
RMB
RMB
RMB
RMB
Paper gold
3,349
94,393
101,408
(114
)
7,129
Crypto assets of Bitcoin and Ethereum
137
24,693
23,305
19
(1,407
)
119,086
124,713
(95
)
5,722
(i)
Actual paper gold and crypto assets quantity held. Quantities of paper gold are expressed in ounces, and quantities of crypto assets are expressed in number of coins.